Covered warrant: Liquidity continued to improve

Despite three consecutive weeks of improving capital inflows, the covered warrant market continued to exhibit cautious sentiment, as the number of declining warrants still outnumbered gainers. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVRE2515, CVHM2515, and CVJC2505 being the most notable examples. In contrast, CVIC2516, CTCB2521, and CMBB2514 were assessed to be overvalued, based on a total sample of 288 listed CWs.